Wealth manager St. James's Place has today reported a surge in gross inflows of funds under management for the three months ending on 31 March.

The total of £3.23 billion represented a 32% increase on 2016’s figure of £2.45 billion.

Net inflow of funds under management were higher at £1.99 billion, compared to £1.36 billion), with the firm saying it has had a high retention of existing clients and their investments. There were group funds under management of £79.84 billion (2016: £62.02 billion).

Tables: London Stock Exchange 

David Bellamy, SJP chief executive, said: "At the beginning of the year I said we were better placed for the opportunities that lie ahead than ever before and these gross and net inflow figures reinforce that confidence.

“Looking ahead, whilst political and macro uncertainties persist, the more immediate concern for many people relates to personal financial matters, particularly in relation to long term savings, protecting and preserving wealth, tax and intergenerational planning.

“In this regard, the scale and quality of our relationship-based and advice-led approach to the management of our clients' financial affairs, together with our investment management proposition, means we are increasingly well placed to meet this growing need for trusted advice."